Biden: Raising Minimum Wage Is Good for Business

Vice President Joe Biden says raising the federal minimum wage is good for business.

Biden is delivering the White House's weekly radio and Internet address in place of President Barack Obama, who was traveling this week. He's urging Congress to pass Obama's proposed wage hike to $10.10 per hour.

Biden says fair wages generate worker loyalty, leading to higher productivity and less turnover. He says it boosts the economy by generating $19 billion in additional income for the neediest people.

Biden says raising the minimum wage also helps women, who earn less on average than their male counterparts.

In the Republican address, Rep. Jackie Walorski of Indiana is urging Obama to support the VA Management Accountability Act. She says it's a step in the right direction for helping veterans.